Cramer Rosenthal Mcglynn LLC Trims Holdings in Matador Resources Company $MTDR

Cramer Rosenthal Mcglynn LLC decreased its position in shares of Matador Resources Company (NYSE:MTDR) by 17.8% during the 3rd quarter, HoldingsChannel reports. The fund owned 418,376 shares of the energy company’s stock after selling 90,757 shares during the quarter. Cramer Rosenthal Mcglynn LLC’s holdings in Matador Resources were worth $18,798,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in MTDR. Vanguard Group Inc. lifted its stake in shares of Matador Resources by 0.7% in the 3rd quarter. Vanguard Group Inc. now owns 14,780,888 shares of the energy company’s stock valued at $664,105,000 after purchasing an additional 101,613 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Matador Resources by 4.2% in the third quarter. Dimensional Fund Advisors LP now owns 6,411,520 shares of the energy company’s stock valued at $288,079,000 after buying an additional 259,299 shares in the last quarter. LSV Asset Management raised its holdings in shares of Matador Resources by 5.9% in the 3rd quarter. LSV Asset Management now owns 3,532,303 shares of the energy company’s stock valued at $158,706,000 after buying an additional 197,528 shares during the period. Adage Capital Partners GP L.L.C. lifted its stake in Matador Resources by 143.1% during the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 2,556,472 shares of the energy company’s stock worth $121,995,000 after acquiring an additional 1,505,000 shares in the last quarter. Finally, AQR Capital Management LLC boosted its holdings in Matador Resources by 30.6% during the 2nd quarter. AQR Capital Management LLC now owns 1,302,587 shares of the energy company’s stock valued at $62,159,000 after acquiring an additional 305,352 shares during the period. Institutional investors and hedge funds own 91.98% of the company’s stock.

Wall Street Analyst Weigh In

MTDR has been the topic of a number of recent research reports. Weiss Ratings reiterated a “hold (c-)” rating on shares of Matador Resources in a research note on Friday, January 9th. UBS Group lifted their target price on Matador Resources from $50.00 to $52.00 and gave the company a “neutral” rating in a report on Thursday. Wells Fargo & Company cut Matador Resources from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $61.00 to $47.00 in a research note on Tuesday, January 27th. Mizuho boosted their price objective on Matador Resources from $67.00 to $70.00 and gave the stock an “outperform” rating in a research report on Friday, December 12th. Finally, Citigroup raised their target price on shares of Matador Resources from $53.00 to $62.00 and gave the company a “buy” rating in a report on Thursday. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $58.82.

Matador Resources Stock Up 2.9%

Shares of NYSE:MTDR opened at $55.06 on Friday. The firm has a 50 day simple moving average of $45.90 and a 200-day simple moving average of $44.66. Matador Resources Company has a twelve month low of $35.19 and a twelve month high of $55.60. The company has a current ratio of 0.79, a quick ratio of 0.75 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $6.84 billion, a PE ratio of 9.03 and a beta of 1.07.

Matador Resources (NYSE:MTDR) last announced its quarterly earnings results on Tuesday, February 24th. The energy company reported $0.87 EPS for the quarter, topping the consensus estimate of $0.71 by $0.16. The firm had revenue of $847.99 million for the quarter, compared to analyst estimates of $811.13 million. Matador Resources had a net margin of 20.54% and a return on equity of 12.36%. Matador Resources’s revenue for the quarter was down 15.7% compared to the same quarter last year. During the same period last year, the business earned $1.83 EPS. On average, equities analysts predict that Matador Resources Company will post 8.53 EPS for the current fiscal year.

Matador Resources Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 10th. Shareholders of record on Friday, February 27th will be paid a $0.375 dividend. The ex-dividend date is Friday, February 27th. This represents a $1.50 dividend on an annualized basis and a yield of 2.7%. Matador Resources’s payout ratio is currently 24.59%.

About Matador Resources

Matador Resources Company is an independent energy firm primarily engaged in the exploration, development and production of oil, natural gas liquids (NGLs) and natural gas. The company focuses on upstream operations, utilizing horizontal drilling and hydraulic fracturing techniques to unlock hydrocarbons from key reservoirs. Its asset base includes both operated and non‐operated positions, with a particular emphasis on the Permian Basin, one of the most prolific oil-producing regions in North America.

Matador’s core operations are concentrated in the Delaware Basin segment of the Permian Basin, where it holds substantial acreage in both Reeves and Culberson counties in West Texas and Eddy and Lea counties in New Mexico.